"Wasn't it the suicide of the President of the Eleventh National Bank?" he asked.
"Happened after the crash," said T. B. promptly. "Do you remember the extraordinary slump in Russian Fours in April--a slump which, like the drop in Yankees, affected every market? What was the cause?"
"Again you're wrong," said the other; "the slump anticipated the attempt; it did not follow it. Then we have the business of the 9th of August."
"But, surely, the reason for that may be traced," said Elk; "it followed the decision of the Cabinet to abolish coloured labour in the mines."
"It anticipated it," corrected his chief, with a twinkle in his eye, "and do you remember no other occurrence that filled the public mind about that time?"
"There was the airship disaster at the palace. Hike Mills was put away just about then for blackmail; there was the Vermont case--and the Sud Express wreck----"
"That's it," said the Commissioner, "wrecked outside Valladolid; three killed, many injured--do you remember who was killed?"
"Yes," said Elk slowly, "a Frenchman, whose name I've forgotten; Mr. Arthur Saintsbury, a King's Messenger--by George!"
The connection dawned upon him, and T. B. grinned.
"Killed whilst carrying despatches to the King of Portugal," he said.
"Those despatches related to the proposed withdrawal of native labour--much of which is recruited in Portuguese West Africa." He paused a moment, and added as an afterthought, "His despatch-box was never found."
"I suggest there is an intelligent anticipator in existence who is much too intelligent to be at large." The Commissioner walked to the door.
"I offer you two suggestions," he said: "the first is that the method which our unknown operator is employing is not unlike the method of Mr. George Baggin, who departed this life some time ago. The second is that, if by any chance I am correct in my first surmise, we lay this ghost for good and all."
It was two days later, when Consols touched 80, that T. B. Smith gathered in Cord Van Ingen and marched him into the City.
The agitated Committee-man of the Stock Exchange met them in his office and led them to his private room.
"I must tell you the whole story," he said, after he had carefully shut and locked the door. "Last Wednesday, the market still rising and a genuine boom in sight, Mogseys--they're the biggest firm of brokers in the city--got a wire from their Paris agents which was to this effect, 'Sell Consols down to 80.' They were standing then at 90, and were on the up-grade. Immediately following the wire, and before it could be confirmed, came another instruction, in which they were told to sell some gilt-edged stocks--this was on a rising market, too--down to prices specified. I have seen the list, and taking the prices as they stood on Wednesday morning and the price they stand at to-day, the difference is enormous--something like three millions."